FIRST AU LIMITED — Capital/Financing Update 2019

Jul 8, 2019

First Au Limited

(ASX: FAU)

9 July 2019

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FAU expands potential holdings around Gimlet Au Project

First Au Limited (ASX: FAU; the “Company”) is pleased to announce an increase in its potential ground holding around the Company’s flagship Gimlet Au Project, near Kalgoorlie. The Company has entered an option agreement with private company Kesli Chemical Pty Ltd (“Kesli”) dated 8 July 2019 which includes the right to explore the 18km[2] White Flag tenement (E24/215), located ~ 3.5 km NW of the FAU 100%-owned Gimlet Exploration Tenement E26/174 and Mining Lease Application M26/849 (Figure 1). The tenement is 5km NE of the Kundana Mining Camp (Northern Star) and major gold carrying Zuleika Shear Zone.

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Figure 1: Location map of the Gimlet Gold Project (E26/174 & M26/849) and new White Flag tenement (E24/215) near Kalgoorlie

First Au Limited ACN 000 332 918 Registered Office: Level 1 / 123 Whitehorse Road, Balwyn Vic. 3103 Australia. Telephone 03 9817 0700 Facsimile 03 9817 0799 Website: www.firstau.com Email: info@firstau.com

FAU & Kesli Option Agreement:

The FAU / Kesli Option Agreement includes the following key terms:

1. FAU has a right to explore on EL24/215 for up to three years from the signing of Agreement on 8 July 2019.

2. FAU has paid an option fee of $25,000 on the granting of the option on 8 July 2019 (Execution Date) and is required to pay an Option Fee of $25,000 on the first and second anniversary dates of the execution date of the Agreement to maintain the option rights, failing which the option will expire.

3. FAU will keep the tenement in good standing, which includes regulatory requirements, meeting of expenditure commitments and rents.

4. At any time during the option term which expires three years after execution date which is 8 July 2022, FAU can elect to exercise the option to take up 85% ownership of the tenement for a cash payment of $250,000.

5. In accordance with the Options Agreement, Kesli shall be free carried for all expenditure up until a decision to mine.

We consider the right to explore the White Flag Tenement E26/174 will complement our existing Gimlet project. Further information will be released following the completion of an overview of the geology of the area and a review of the drilling and assay information provided by Kesli.

On Behalf of the Board

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Bryan Frost Executive Chairman

About First Au: First Au is an advanced gold and base metals exploration company listed on the Australian Securities Exchange (ASX: FAU) and is pursuing a well-funded and aggressive exploration program at its 100% owned Gimlet Gold project near Kalgoorlie and its Emu Creek and Talga Projects in the Eastern Pilbara region of Western Australia.

Enquiries in relation to this announcement please contact either :

Richard Revelins: rrevelins@firstau.com +1-310-405-4475 Paul Armstrong: paul@readcorporate.com.au +61-421-619-084

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